Brazil's Vale to sell subsidiary's aluminum assets

12:47, January 23, 2010      

Email | Print | Subscribe | Comments | Forum 

Brazil's mining giant Vale, the largest iron ore producer in the world, Friday announced plans to sell the aluminum assets of one of its subsidiaries to a French company.

Its subsidiary Valesul Aluminio S.A. (Valesul) in Rio de Janeiro state has reached an agreement with Aluminio Nordeste S.A., a company of the French Metalis group, on the transaction, it said.

The assets included in the agreement are Valesul's anode plant, reduction plant, smelter, industrial services and administrative facilities and inventories, involving a total of 31.2 million U.S. dollars.

Valesul operated an aluminum smelter with a nominal capacity of 95,000 metric tons per year until March 2009. The company ceased its aluminum smelting operations in April for development in other fields.

Source: Xinhua
  • Do you have anything to say?


Special Coverage
Major headlines
Editor's Pick
  • Abbas urges Washington to help dropping Israeli conditions
  • "Energetic Matrix", pavilion of private enterprises for Expo 2010, holds completion ceremony
  • Ice coverage continues to expand in Bohai Sea
  • China donates funds, necessities to South African people
  • China vows to boost relations with Liberia
  • Chinese FM meets with Liberian counterpart in Beijing
Most Popular
Hot Forum Dicussion